How is the Bitcoin dollar calculated? from considering stable coins. This new type of cryptocurrencies are tokens that are associated with the value of a currency (in this case the dollar), with material goods such as gold or real estate, or with another cryptocurrency. There’s also “stablecoins” that are not associated with any other currency but are controlled by algorithms to maintain a stable price. The main motivation for creating a “stablecoin” is to try to shelter investors in times of volatility. The particularity of these stablecoins is that they trade at a rate of US $ 1.
This is the case of Tether, which in the domestic market remains below $ 200 ($ 199), USD Coin ($ 198), Binance USD ($ 198) and DAI ($ 198) while the blue dollar for today is trading at the $ 206 with a slight increase of 50 cents compared to yesterday.
Advantages and disadvantages of stablecoins
- Execute transfers at the moment paying very low commissions regardless of the destination.
- Make investments at an international level and in decentralized protocols that exceed in all respects the fixed term and other banking options.
- Dollarize our savings without restrictions, since there is no hold on stablecoins due to their decentralized nature and operation between people.
- Being backed by some physical, real and tangible asset, it can be easily exchanged for a product.
- They offer great liquidity to the market.
Disadvantages
The value of fiat-backed stablecoins is likely to decline over time. When central banks print more money, they devalue the currency. Its structure becomes centralized, which goes against one of the main attributes of blockchain, which is to get rid of centralized systems.
How to buy stablecoins in Argentina?
They can be bought in Exchanges, in many cases especially in Argentina using the P2P (peer-to-peer) method in Binance and Kucoin. At the same time in other exchages by means of previous funding of fiat money such as Buenbit, Ripio satoshitango, Lemon cash etc. Or being acquired by exchanging for another cryptocurrency either in CEX (Centralized Exchage) or DEX (Decentralized Exchange).
Source From: Ambito
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